AGM Statement and IMS

RNS Number : 2485F

STV Group PLC

20 April 2011

 



20 April 2011

STV Group plc                                                      

Interim Management Statement

Scotland's Digital Media Company

The following trading update will be provided to shareholders by STV's Chairman, Richard Findlay, at the Company's Annual General Meeting to be held at 11.00 am today:

"As stated at our Preliminary Results in late February, we have made a positive start to 2011. Overall, trading and digital business growth is in line with the Board's expectations for the current financial year.  

The airtime market has continued to improve in Q1 with revenues up 9% year-on-year.  STV national television airtime revenues were up 11% in Q1, however, in line with the slower pace of regional economic recovery, the regional television market continues to lag, down 10% on last year.

Looking ahead, the outlook is for STV's revenue to be in line with the national market trends across the first five months of the year.  The total television advertising market is forecast to be up 7% in April, with the outlook for May at down 7%, reflecting the pre-World Cup effect on May last year which was up 23%.   The regional market is being impacted by the Scottish Election and is expected to be down 19% in April and down 10% in May.

STV Local's roll-out continues with the successful launch of five further sites delivered during the first four months of the year, taking the total number to 21 sites.

It is also confirmed today that our news pilot, announced earlier this year, will launch on 16 May 2011.  This service will make STV News the most local television news service in the UK and will provide an enhanced locally focused news service across all platforms, including STV Local.

Finally, there is no update on the status of the litigation with ITV plc/ITV Network since our Preliminary Results announcement in February.

Richard Findlay, Chairman, said:

"We have delivered a strong start overall to 2011 and there is real momentum throughout our business as we continue to achieve revenue growth across all platforms.  We remain confident of our ability to continue to create enhanced shareholder value and deliver against the challenging KPI targets we have set out."

Rob Woodward, Chief Executive Officer, said:

"We are continuing to deliver growth and develop new consumer services and progress our digital strategy.  Whilst the advertising market remains short-term in outlook, we are creating new opportunities to grow advertising revenues and increase our market share. Overall, we are successfully building a reputation as an innovative, solutions driven, digital business."

Enquiries:

STV Group plc

George Watt, Chief Financial Officer                    Tel: [phone]

Kirstin Blackie, PR Manager                               Tel: [phone]

College Hill

James Hogan                                                    Tel:  [phone]

Jamie Ramsay

 

END

 

 

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